Your Retirement Belongs To Us

The Editors at Investor’s Business Daily published an excellent editorial yesterday [tip of the fedora to Memeorandum] on the coming attempt by the national government to seize control of retirement accounts, like the 401(k).

A highlight:

President Obama’s National Commission on Fiscal Responsibility and Reform, for instance, proposed lowering the cap on the amount workers could place in their 401(k)s without incurring taxes.

And nearly three years ago, Newt Gingrich and Peter Ferrara wrote on these pages about the Treasury and Labor departments "asking for public comment on ‘the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams.’"

"In plain English," said Gingrich and Ferrara, "the idea is for the government to take your retirement savings in return for a promise to pay you some monthly benefit in your retirement years."

More than 60 million American workers have a 401(k) or similar — 403(b) or 457(b) — plan. But taxing these accounts or lowering the amount that can be contributed to them tax-free would do little to close the deficit and cut the debt.

The thing to understand about this particular power grab by the Left is that they don’t really give a damn about raising revenues — that is not their real concern in seeking to confiscate our savings, our wealth.

For the Left, this is about further enslaving you to the state by making you dependent upon their good will. They will control whether you can retire because they will get to decide if you can get back the monies you saved so that you could retire. In a sense, the national government will become your Sugar Daddy and that means you’ll be expected to do as they say. They will decide whether you have any money in your pocket. They will own you financially, just as they now own your body via Obamacare [and, in the future, via Obamacare II: Single Payer System].

The Left will be successful in this because, ultimately, they face no opposition. The Republicans are not a shadow government, but, rather, a shadow of their former selves. The GOP will allow this to happen because all they care about is being allowed to sit at the table [even though it's the kid's table].

If you can, cash-out of your retirement plan and convert what monies you get to things that are beyond the government’s reach, such as precious metals and ammo and anything that can be bartered.

Jeff Goldstein points to another reason why the national government wants to gain this control:

It’s another “nudge” to get servicing industries out of the business, leaving a void to be filled by the feds, who will likely propose an annuity plan in exchange for controlling “your” retirement money.

Luckily, that makes it easier for them to bill you for your “free health care” once you are into retirement and the piper’s fee comes due.

Celebrating And Defending Western Civilization

OUTLAW

'The only liberty that is valuable is a liberty connected with order; that not only exists along with order and virtue, but which cannot exist at all without them. It inheres in good and steady government, as in its substance and vital principle.' -Edmund Burke

The Official TCOTS Theme Song…

'Hold onto your gear and prepare yourselves. Register nothing. Resist them at every turn. Don’t cooperate. Refuse to compromise. Because it is coming. And if you don’t feel it, and prepare for it, more’s the pity.' -Jeff Goldstein
- - - - - -

'Why is it that the left are the only people in this country who can resist, who can obstruct, who can sabotage? I say we resist and where we can obstruct and where we can sabotage tyranny. What do you say?' -Mark Levin

A VOICE FIGHTING TYRANNY…

BOB BELVEDERE RECOMMENDS…

MARIZELA PEREZ IS STILL MISSING: For the latest news on the search for this young lady, please visit the special website that has been set-up: FindMarizela.com. Her cousin, Michelle Malkin has more pictures of her here.
______________________________________________________________
For The Latest News on the KIMBERLIN / RAUHAUSER SAGA: Follow John Hoge’s blog HOGEWASH. He’s doing one huckuva job covering the story.
______________________________________________________________

Note from Bob regarding any ads featured on this site: I do not receive any monies or renumeration or considerations for featuring them; I promote them because I like what they have to offer.

Regarding Comments & Trackbacks…

-If you leave a comment and it disappears, chances are it got swept-up in my Spam Bucket. I will be checking my Spam Bucket every chance I get [Note: I will not be able to do this until late afternoon most days].

-WordPress Trackbacks are not always working either, so you may not know I linked to you.

-Your Trackbacks to me may not be registered on my Dashboard, so I may fail to send a 'Thank You' your way. Please do not be shy in letting me know if I've missed your linkage.